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CME to launch API 6 coal swaps futures

Singapore, 6 September, 2011

CME Group’s NYMEX exchange will list swap futures based on the API 6 index, an Australian coal export benchmark published by Argus and IHS McCloskey. The new swap futures will be available for trading on the NYMEX trading floor from 12 September 2011 and will be available for clearing through CME ClearPort.

The API 6 index is an average of the Argus fob Newcastle assessment and McCloskey’s fob Newcastle benchmark, published exclusively in the Argus/McCloskey Coal Price Index Report. The API 6 index employs the same robust and trusted methodology that supports the successful API 2 and API 4 indexes. It is published in the Argus/McCloskey Coal Price Index report, along with the API 2 and API 4 indexes, which are the standard international price reference in physical and over-the-counter contracts. More than 90pc of the world's traded coal derivatives use these indexes for price settlement.

“We are pleased that CME Group has announced this new instrument, which will help expand risk management and trading opportunities for thermal coal in Asia-Pacific. We wish CME Group every success with its new contract,” Argus Media chairman and chief executive Adrian Binks said.

Argus uses a precise and transparent methodology developed in conjunction with the industry to assess market prices. This is available online at


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About Argus

Argus Media is a leading provider of price assessments, business intelligence and market data on the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy and transportation industries. It is headquartered in London and has offices in Houston, Washington, New York, Portland, Calgary, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev, Santiago and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company.

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About CME Group

CME Group is a trademark of CME Group Inc., used here with permission.  NYMEX and ClearPort are trademarks of New York Mercantile Exchange, Inc., used here with permission.  All other trademarks are the property of their respective owners.